Insurance Claim Payment: Vouchers

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  • derrick
    derrick Posts: 7,420
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    I wonder if the insurance company would accept vouchers for the policy premium, some how I very much doubt it!
    Don`t steal - the Government doesn`t like the competition


  • At this point in time, I don't know if I can replace the goods for the vouchers yet but by the time I find out I will be out of options!

    I don't believe I'm spending their money at all. It's actually mine, I've been paying in for years for just exactly this sort safeguard.

    The problem is not one of discounts - but rather with the vastly inflated prices that I just know I'm going to be paying with my vouchers. I know if I were to insist on cash its likely I would have to take a cut in the amount that I'm offered. However, I would be happy to do that, because I know I can buy the replacements at a far more reasonable price than their appointed outlets charge.

    I wish I could beleive that by reducing fraudulent claims the cost would be passed on to me the customer. I know for sure that next year I will have to pay a higher premium anyways because of my claim this year.

    And derrick, those are my sentiments too and I will use it in my negotiations with them.
  • I presume the vouchers for the carpet are from "independant inspections"
    HOW IT WORKS IS THAT THE VALUER FINDS THE LOWEST PRICE POSSIBLE FOR YOUR QUALITY OF CARPET AND GIVES YOU A VOUCHER FOR THAT AMOUNT.YOU ALSO RECEIVE A LIST OF RETAILERS IN YOUR AREA AND ARE LED TO BELEIVE THAT YOU HAVE TO GO TO THEM,THIS IS NOT THE CASE,RETAILERS ON THE LIST PAY FOR INCLUSION.YOU GO TO A RETAILER ON THE LIST SHOW THE VOUCHER FIRST,PRE-WARNING THEM ,AND CHOOSE A CARPET.THESE RETAILERS THEN GIVE YOU A LARGER QUOTE AND SAY THAT U HAVE TO PAY THE EXTRA OR SELL YOU A CHEAPER CARPET.
    THE REASON FOR THIS IS THAT THEY ALSO HAVE TO GIVE A DISCOUNT ON THE UNDERVALUED CARPET TO THE INSURANCE COMPANY. THIS IS APPROX 12%.YOU COULD ASK THE INS CO FOR A CASH SETTLEMENT BUT THIS WOULD ALSO BE SUBJECT TO THE 12% DISCOUNT.THEY WON'T PAY FOR UPLIFT ,DISPOSE JUST THE LOWEST PRICE THEY CAN GET ANYWHERE AND QUITE OFTEN THEY DON'T EVEN KNOW WHAT THE CARPET IS
  • Hi

    I have a voucher from Independant Inspections to replace damaged carpets The suppliers they list locally are not suppliers I would normally use and as other posters have correctly stated, more expensive than other retailers such as John Lewis where most of my carpets have been purchased.. I have even found a web supplier which is £10 per sq.metre cheaper.

    I actually want to replace part of the carpet with a wooden floor and wouldn't buy both from the same retailer which is a further complication with the voucher.

    Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative? I would be prepared to accept a 12% discount on the voucher value for the freedom to choose and proceed at my own pace!
  • rhiwfield
    rhiwfield Posts: 2,482 Forumite
    Hi, I had an underfloor leak this year and had to replace flooring in several rooms. I was offered a voucher from independent inspections by the loss adjusters OR a cash settlement at a 15% discount. I'd spoken to one or two of the allowed suppliers and it seemed as if I would pay over the odds if I used them so I took the cash. I was able to negotiate discounts at the store of my choice rather than accept take it or leave it quotes because I was tied in. I also noticed that one of the suppliers listed had gone bust!
    CherylD wrote: »
    Hi

    I have a voucher from Independant Inspections to replace damaged carpets The suppliers they list locally are not suppliers I would normally use and as other posters have correctly stated, more expensive than other retailers such as John Lewis where most of my carpets have been purchased.. I have even found a web supplier which is £10 per sq.metre cheaper.

    I actually want to replace part of the carpet with a wooden floor and wouldn't buy both from the same retailer which is a further complication with the voucher.

    Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative? I would be prepared to accept a 12% discount on the voucher value for the freedom to choose and proceed at my own pace!
  • By the way the Insurance Company is LV
  • lisyloo
    lisyloo Posts: 29,583
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    [QUOTE}Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative?[/QUOTE]

    What does it say on your policy?

    If your policy says you are entitled to replacement and the voucher system CAN be used for replacement then that seems fine.
    You might want cash or something else, but I suspect you aren't entitled to it, but you would need to check your policy to know for sure.
  • FlameCloud
    FlameCloud Posts: 1,953
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    CherylD wrote: »
    Does anyone know if I can either insist on using a retailer of my choice or having a cash alternative? I would be prepared to accept a 12% discount on the voucher value for the freedom to choose and proceed at my own pace!

    If you can obtain quotes from other companies to do what you like and they are cheaper than the II quote, there is no reason why any reasonable adjuster would say no- I prefer sorting things out this way as there is less comeback if they muck the floor up putting it in!
  • papi34
    papi34 Posts: 93 Forumite
    Hi

    I am having to make a claim on a living room carpet. The damage is in the living room but the carpet goes through into a dining area.

    I read with interest on this forum that Independant Insurance (who are the appointed loss adjusters)will give a voucher for the cost of the work. Or should I negoitiate a cash settlement to replace the carpet.

    The original cost of the carpet was around £600 plus fitting

    My insurance is with Tesco Insurance
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